- A review of the past week’s crypto market activity reveals a divergence: prices decreased, but on-chain metrics suggest strong buying interest.
- Over the last week, publicly traded corporations acquired more than 31,000 BTC, representing a $3.61 billion investment.
- During the price decline, emerging large holders (whales) accumulated over 225,000 ETH, with an estimated value of $819 million.
Last week, Bitcoin (BTC) and Ethereum (ETH) experienced a technical correction, leading to price drops. However, an examination of blockchain data indicates that institutional investors and major players used this dip as an opportunity to significantly increase their holdings.
Between July 28th and August 3rd, BTC’s value dipped below $112,000, while ETH fell under $3,400. This led to a noticeable reduction in trading volume across both spot and derivatives markets. Nevertheless, recently released information shows that this period was characterized by strategic accumulation from key market participants.
Market Activity Calms Down After a Volatile July
Following a surge to a record peak of $123,400 on July 14th, Bitcoin entered a period of price adjustment, declining approximately 7% to around $114,000.
Market observers like “oinonen_t” suggest that this pullback can be attributed to a combination of factors. These include uncertainties in the broader economic landscape, worries about inflation, the introduction of new tariff policies, and negative signals from technical analysis…
The post Weekly On-Chain Report (July 28 – Aug 3): Whales Bought $4.4 Billion in BTC and ETH as Retail Panicked appeared first on Coin Edition.